Pacific Crest Downgrades Nanometrics (NANO) to Sector Weight
- Indexes hit record highs as Trump rally continues
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Lower for longer, ECB scales back asset buys
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Oil rises above $50 on renewed hopes for output cuts
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Pacific Crest downgraded Nanometrics (NASDAQ: NANO) from Overweight to Sector Weight and removed its price target. Analyst Weston Twigg recommended reducing positions in semiconductor equipment.
"We anticipate order declines and limited demand growth for semiconductor equipment names as 3D NAND equipment demand is likely to peak in 2017, while logic/foundry demand remains mixed and DRAM demand remains low. Sector valuations are reasonable, so we do not see meaningful near-term downside risk, but further stock appreciation may be limited. We are lowering our ratings for LRCX and NANO to Sector Weight, and we remain Overweight on AMAT, MKSI and ENTG for longer-term opportunities," said Twigg.
Shares of Nanometrics closed at $21.39 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- UPDATE: Stifel Downgrades Lincoln Electric (LECO) to Hold
- Mizuho Securities Upgrades Tailored Brands (TLRD) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesPacific Crest Securities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!